President Trump's most sweeping tariffs face a landmark test of presidential powers, as the US Supreme Court is set to rule on the implications and legality of Trump's global duties on trade partners.

The US Supreme Court on Friday did not deliver a ruling on legal challenges to President Donald Trump’s sweeping tariffs, deferring a closely watched decision on the radar investors across the globe.

The decision delay means the legal uncertainty surrounding Trump’s tariffs will continue, leaving global markets and trade relations in a state of anticipation.